Personal Finance PPT 2

Key terms: Rates, location, courier, customers, reputation, customer service.

Key terms: Channels. Staffing Experience Qualifications Flexible staff

Key terms: Bank loan, interest, personal savings, cost of borrowing, cash flow forecast, business plan, overdraft, business expenses.

5 questions. Possible structure: 1 hour exam 5 questions. Possible structure: Q1a and 1b – 4 + 3 marks Q2 – 6 marks Q3 – 3 marks Q4 – 4 marks Q5 – 7 marks + 3 SPAG Out of 30 Question 5 will be assessed for SPAG (worth 3 marks) Case study will be given in the exam Pass mark – 50%

Potential exam questions Explain two skills does Rob have that would make him a successful entrepreneur? 4 marks Explain two skills Rob may need that would make him a successful entrepreneur? 4 marks Describe two features that would make Rob’s business stand out from other competing firms. 4 marks. Explain three factors (two internal and one external) that might have an impact on Rob’s business budget. 6 marks. Explain three factors (two internal and one external) that might have an impact on Rob’s cash flow. 6 marks. Explain two possible impacts on Rob’s business to ethically source his products. 4 marks. Explain different ways that Rob’s business can contribute to the economy. 7 marks.

Knowledge based questions Why would flexible staff benefit Rob’s business? What tax changes may impact on Rob’s business? Why might Rob have borrowed money from the bank rather than using his own savings? Why has Rob chosen to locate near universities? Why is a good reputation important for businesses such as Rob’s? What would appear in Rob’s budget? What legislation or tax changes would increase or decrease the demand for Rob’s business? How could Rob benefit from his business being a success? Why has Rob chosen to source his products ethically and promote this fact? How could Rob’s business benefit the economy and society?